Vadasz was a part of Intel's founding team in 1968 and subsequently managed the design teams for the world's first DRAM, EPROM and, most importantly, the world's first microprocessor.

Likewise, Denver-based ZettaCore plans to begin it development work with molecular memory chips before taking on the rest of the semiconductor industry. The company claims that within the decade "almost every electronic device will contain memory based on a new generation of technology," namely its molecular memories capable of storing gigabytes on chips that are less power hungry and nonvolatile.

"This is a very interesting technology capability that will be a contender for semiconductor memory technology," said Vadasz.

According to ZettaCore, electronic memory applications are just emerging from the lab, made feasible by hybrid devices that use individual molecules as storage elements and traditional semiconductor technology for the logic circuits that read and write the molecules.

"The science is starting to give a solid enough foundation in areas that we consider good business opportunities," said Vadasz.

Vadasz retired from Intel Capital in June and began interviewing companies regarding potential board positions.

"I haven't joined any other boards since retiring," said Vadasz who is a corporate board member emeritus at Intel. "This was the only one I thought could have a high-enough impact that it piqued my interest."

ZettaCore was founded in 1999 by scientists at the University of California Riverside and North Carolina State University. Its first round of venture funding was completed in 2001.